SBA Loan from Small Business Loan Source LLC Helps Hotels And Motels Company

An SBA loan from Small Business Loan Source LLC typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Urbana, Illinois business owner got a $1,020,000 loan.

This business knew how to go about getting a business bank loan. Based in Urbana, Illinois, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Small Business Loan Source LLC, based in Houston, Texas.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
URBANA, IL 61802

SBA Loan Lender

SMALL BUSINESS LOAN SOURCE LLC
9801 WESTHEIMER RD #1100
HOUSTON, TX 77056

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/18/2003

Loan Approval Gross Amount

$1,020,000

Loan Approval from the SBA

Of the total $1,020,000 loan amount, the SBA guaranteed $765,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,020,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Business Line of Credit

Where to Get an SBA Loan in Houston, Texas

Texas SBA Bank Lenders